Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results

Oceaneering International (NYSE:OII) issued its earnings results on Wednesday. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16), reports. The business had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a net margin of 4.36% and a return on equity of 15.10%.

Oceaneering International Price Performance

OII stock opened at $24.55 on Friday. The stock has a 50-day moving average price of $22.49 and a two-hundred day moving average price of $21.79. The stock has a market cap of $2.49 billion, a PE ratio of 23.16 and a beta of 2.49. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. Oceaneering International has a 1 year low of $14.99 and a 1 year high of $27.46.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays lowered their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Finally, Benchmark restated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research report on Thursday.

Hedge Funds Weigh In On Oceaneering International

A number of large investors have recently modified their holdings of the business. Simplicity Wealth LLC acquired a new position in shares of Oceaneering International during the 1st quarter worth about $284,000. Oldfield Partners LLP boosted its stake in shares of Oceaneering International by 4.0% during the 1st quarter. Oldfield Partners LLP now owns 67,229 shares of the oil and gas company’s stock worth $1,573,000 after buying an additional 2,600 shares during the last quarter. Norden Group LLC acquired a new position in shares of Oceaneering International during the 1st quarter worth about $233,000. SteelPeak Wealth LLC acquired a new position in shares of Oceaneering International during the 1st quarter worth about $516,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Oceaneering International by 18.8% during the 1st quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock worth $27,296,000 after buying an additional 184,300 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.